SUPPORTING YOUR BUSINESS TO RECOVER POST COVID 19
Did you know that there is still time to access post Covid-19 recovery funding and help?
There are many government schemes and grants which you can still access to help your business get back on its feet post-Covid.
Southside BID has pulled together this useful guide to signpost businesses towards possible grant sources and business relief schemes, to help you navigate the challenges as we emerge from the pandemic.
Financial help:
1. The Government Recovery Loan Scheme
This is for UK based small or medium sized businesses with a turnover of less than £45 million. Businesses can borrow up to £10m dependent upon size and this scheme is available until 30 June 2022. This grant is designed to aid the businesses which have been most affected by the pandemic.
Employers can claim back SSP paid to employees for absences related to covid between 21st December 2021 and 17th March 2022. Final claims must be made by 24 March 2022.
Certain businesses such as shops, restaurants, cafes and cinemas will be entitled to relief on their business rates bill because of the impact of Covid. Birmingham City Council will apply the discount automatically.
You may be able to set up a Time To Pay arrangement with HMRC if you can’t pay your tax bill on time due to Covid. For further information, click the link above or call the HMRC helpline on 0300 200 3835.
5. VAT reduction for hospitality, holiday accommodation and attractions
A reduced rate of 12.5% VAT will remain in place until 31 March 2022 for these sectors, the rate then returns to 20%. These charges are applied automatically.
Support to create job placements:
6. Traineeships
This is a targeted skills development programme which lasts for up to a year. You can claim £1,000 per young person placement for traineeships between 1 Sept 2020 and 31 July 2022.
You may be able to get funding from the government if you employ an apprentice, click the link above to find out more.
8. T Levels
These are new courses which follow GCSEs and are equivalent to three A levels. These two-year courses provide a mixture of classroom learning and ‘on-the-job’ experience as part of an industry placement. Employers can claim £1,000 for every T Level student they host on a 45-day placement. Employers can claim for up to 20 students, starting their T Level placements between now and July 2022. To find out more please visit
For further help:
HMRC Coronavirus Helpline for businesses and the self-employed
Call: 0800 024 1222
Lines Open: Monday - Friday, 8am to 4pm
The Department for Business, Energy and Industrial Strategy has a dedicated business support helpline, where small business owners in England can get guidance on how best to cope with the effects of Covid-19.
Call: 0800 998 1098
Lines Open: Monday – Friday, 9am - 6pm
Email: enquiries@businesssupporthelpline.org
For more details or you need further advice, please get in touch with the Southside BID team. We’re here to help.